Financials Infotel

Equities

INF

FR0000071797

IT Services & Consulting

Market Closed - Euronext Paris Other stock markets 16:35:05 26/04/2024 BST			5-day change	1st Jan Change
49.5 ^EUR	-0.80%		-1.39%	-6.60%

03-14	Infotel: down on annual results	CF
02-01	Infotel: over 2% growth in annual sales	CF

Valuation

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Capitalization ¹	255.5	265.8	291.5	387.1	380.2	340.9	340.9	-
Enterprise Value (EV) ¹	182.7	207.8	225.3	279.3	267.4	365	242.3	232.7
P/E ratio	16.9 x	20.7 x	31.6 x	28.2 x	18.7 x	20.3 x	16.3 x	14.6 x
Yield	4.17%	2.63%	3.7%	2.85%	3.62%	4.15%	4.13%	4.23%
Capitalization / Revenue	1.1 x	1.07 x	1.24 x	1.47 x	1.27 x	1.19 x	1.08 x	1.02 x
EV / Revenue	0.79 x	0.84 x	0.96 x	1.06 x	0.89 x	1.19 x	0.77 x	0.7 x
EV / EBITDA	7.14 x	7.29 x	9.09 x	9.31 x	6.89 x	10.4 x	6.43 x	5.65 x
EV / FCF	10.3 x	12.5 x	6.49 x	10.5 x	12.3 x	13.4 x	10.5 x	9.33 x
FCF Yield	9.74%	8%	15.4%	9.56%	8.12%	7.48%	9.54%	10.7%
Price to Book	2.93 x	2.89 x	2.98 x	3.75 x	3.37 x	2.83 x	2.68 x	2.51 x
Nbr of stocks (in thousands)	6,654	6,654	6,732	6,888	6,888	6,888	6,888	-
Reference price ²	38.40	39.95	43.30	56.20	55.20	49.50	49.50	49.50
Announcement Date	06/03/19	04/03/20	10/03/21	16/03/22	22/03/23	13/03/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net sales ¹	231.7	248.4	235.2	263.4	300.4	307.5	316.1	332.9
EBITDA ¹	25.6	28.5	24.8	30	38.8	35.2	37.68	41.2
EBIT ¹	22.7	25.9	16.8	21.9	29.8	27.5	27.3	30.6
Operating Margin	9.8%	10.43%	7.14%	8.31%	9.92%	8.94%	8.64%	9.19%
Earnings before Tax (EBT)	23	-	17.1	-	29.2	-	29.1	34.7
Net income ¹	15.1	13	9.4	13.7	20.9	18.1	19.88	22.58
Net margin	6.52%	5.23%	4%	5.2%	6.96%	5.89%	6.29%	6.78%
EPS ²	2.270	1.930	1.370	1.990	2.950	2.610	3.038	3.384
Free Cash Flow ¹	17.8	16.63	34.72	26.7	21.71	17.9	23.12	24.94
FCF margin	7.68%	6.69%	14.76%	10.14%	7.23%	5.82%	7.31%	7.49%
FCF Conversion (EBITDA)	69.53%	58.35%	140.01%	89%	55.95%	49.69%	61.37%	60.53%
FCF Conversion (Net income)	117.88%	127.92%	369.38%	194.89%	103.87%	96.76%	116.33%	110.48%
Dividend per Share ²	1.600	1.050	1.600	1.600	2.000	2.055	2.045	2.095
Announcement Date	06/03/19	04/03/20	10/03/21	16/03/22	22/03/23	13/03/24	-	-

¹EUR in Million²EUR

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2019 S1	2020 S1	2021 Q2	2021 S1	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 S1	2022 Q3	2023 Q1	2023 Q2	2023 S1	2023 Q3	2024 Q1
Net sales ¹	122.4	118.4	64.6	129.1	67.15	71.4	74.4	74.8	149.3	71.4	83.8	74.5	158.3	70.3	81.5
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
EBIT	9.538	-	-	-	-	-	-	-	14.13	-	-	-	13.4	-	-
Operating Margin	7.8%	-	-	-	-	-	-	-	9.46%	-	-	-	8.46%	-	-
Earnings before Tax (EBT)	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net income	4.987	-	-	-	-	-	-	-	9.811	-	-	-	-	-	-
Net margin	4.08%	-	-	-	-	-	-	-	6.57%	-	-	-	-	-	-
EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Dividend per Share	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Announcement Date	20/09/19	16/09/20	28/07/21	28/07/21	16/12/21	16/03/22	21/06/22	21/09/22	21/09/22	26/10/22	13/05/23	21/09/23	21/09/23	13/12/23	-

¹EUR in Million

Estimates

Balance Sheet Analysis

Fiscal Period: December	2018	2019	2020	2021	2022	2023	2024	2025
Net Debt ¹	-	-	-	-	-	-	-	-
Net Cash position ¹	72.8	58.1	66.2	108	113	101	98.6	108
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Free Cash Flow ¹	17.8	16.6	34.7	26.7	21.7	17.9	23.1	24.9
ROE (net income / shareholders' equity)	17.9%	14.5%	9.91%	13.5%	19.4%	16.9%	17%	17.9%
ROA (Net income/ Total Assets)	-	-	-	-	8.21%	7.3%	6.8%	7.9%
Assets ¹	-	-	-	-	254.4	253.4	292.3	285.8
Book Value Per Share ²	13.10	13.80	14.50	15.00	16.40	17.50	18.50	19.70
Cash Flow per Share ²	3.400	3.090	5.680	3.930	4.390	4.260	4.540	4.790
Capex ¹	4.81	4.2	4.43	3.5	4.66	4.85	5.03	5.4
Capex / Sales	2.07%	1.69%	1.88%	1.33%	1.55%	1.58%	1.59%	1.62%
Announcement Date	06/03/19	04/03/20	10/03/21	16/03/22	22/03/23	13/03/24	-	-

¹EUR in Million²EUR

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for Infotel

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

OUTPERFORM

Number of Analysts

Last Close Price

49.5 EUR

Average target price

54.5 EUR

Spread / Average Target

+10.10%

Consensus

EPS Revisions

Estimates Revisions

Quarterly revenue - Rate of surprise

Company calendar

Sector Other IT Services & Consulting

	1st Jan change	Capi.
INFOTEL	-6.60%	364M
ACCENTURE PLC	-12.23%	194B
TATA CONSULTANCY SERVICES LTD.	+0.74%	166B
IBM	+2.19%	153B
AUTOMATIC DATA PROCESSING, INC.	+4.34%	99.85B
RELX PLC	+7.04%	77.56B
CROWDSTRIKE HOLDINGS, INC.	+19.09%	73.55B
INFOSYS LIMITED	-7.30%	71B
SNOWFLAKE INC.	-20.54%	52.81B
HCL TECHNOLOGIES LIMITED	+0.53%	47.86B

Other IT Services & Consulting